Cryptocurrency Analysis and News Portal
Just in time for the 2019 tax season, cryptocurrency accounting firm Lukka announced a “do-it-yourself” crypto tax preparation product tailored for retail investors. Known as LukkaTax, the product evolved from LibraTax, a commercial crypto tax calculator Lukka released in 2014 when the company was first formed.While Lukka has primarily
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Lukka, one of the first accounting firms for digital assets, is offering a TurboTax-like service to retail crypto investors starting on Jan. 15. The move, announced Wednesday, comes after the U.S. Internal Revenue Service (IRS) issued updated guidance for calculating taxes on cryptocurrencies in October. The last time the IRS issued such
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The Income Tax Department of India is secretly training its officials to investigate cryptocurrencies. An internal guidebook circulated by the department explains cryptocurrencies, their characteristics, the “dark side of Bitcoin” and the best investigation practices for tax officials.The Indian government doesn’t consider cryptocurrencies as legal tender, but it also
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Denmark is set to enforce robust bitcoin tax compliance at its tax agency has received information about 20,000 crypto owners in the country. The Scandinavian nation is the latest country to move towards combating crypto tax evasion. Danish Tax Agency Authorized to Gather Bitcoin Tax Info At the start of 2019, BTCManager
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Credit cards and bank transfers – and their incumbent surveillance features – are no longer payment options for Greek citizens, they are obligations. Source
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Denmark-based cryptocurrency users have begun receiving letters from the Danish tax agency, Skattestyrelsen (Skat), requesting that traders provide a full background of all their cryptocurrency transactions, sources informed CryptoX on Dec. 10.In its letters, Skat specifically asked crypto users to provide information about profits and losses for fiscal years
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In the letters, crypto users are asked to provide information such as profits and losses for the 2016-2018 income period, including for crypto-to-crypto trades. Respondents must further provide the rates at the time of the trades and the purpose of the transactions. Other required information includes proof of wallets created,
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Accounting advisor CPA.com and cryptocurrency accounting automation startup Lukka partnered to jointly launch a crypto asset tax preparation tool.CPA.com announced the partnership with Lukka in a press release published on Dec. 9. Per the release, the “LukkaTax for Professionals” crypto asset preparation tool for accountants aims to address issues
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South Korea’s Ministry of Economy and Finance has declared that from next year, it will be introducing new measures to impose taxes on cryptocurrency holdings. This move comes after South Korea has already established a legal framework for crypto.According to new regulations by the South Korean government, the country will
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The South Korean government plans to tax capital gains on cryptocurrency transactions. A Dec. 9 report from The Korea Times reveals that a revised bill to introduce the measure will be drawn up by the country’s Ministry of Economy and Finance by the first half of 2020.In parallel, the
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